Författare: Isabella

Year-end 2016

Posted on by Isabella

Kalmar 2017-03-07

Claesson & Anderzén AB, has today published its Annual Report for 2016, see also www.claessonanderzen.com where the annual report can be downloaded.

Net sales for the Group’s consolidated operations amounted to SEK 1 157m (1 444), of which net sales from the Group´s real estate company, CA Fastigheter AB, amounted to SEK 944 million (1041) and agriculture company, BZK Grain Alliance AB, to SEK 213 million (403). In addition, investment properties were sold for a value of SEK 14 million (835).

CA Fastigheter AB has, despite major sales the previous year managed to maintain an operating profit for 2016 which amounted to 360 MSEK (359). Project development activities have raised a profit of SEK 59 million (64). In 2016, the project portfolio expanded with several major projects primarily in Stockholm. Investment properties were acquired for an amount of SEK 682 million (273) mainly relating to apartment housing in Berlin and Malmö.

Agricultural activity, BZK Grain Alliance AB’s net sales amounted to SEK 213 million (403), a decrease mainly due to the sale in 2015 was affected by high opening stock of crops in combination with low closing balance of stock. Closing balance of stock by end of 2016 were again high which affected sales for 2016 negatively. In addition, the stock of crops are according to accounting principles not reported at market value.
Results of agricultural activities amounted to SEK 79 million (148). Earnings were negatively affected by a reduction in government subsidies which was decided in late 2015 and will be completely abolished in 2017. Yields for 2016 was better than plan for all crops. Compared with the previous year, stock of crops were increased based on the belief that better prices were to be obtained during Q1 2017, which has materialized.

The Group’s holdings in Catella AB, corresponding to 49.9% of the equity, which is reported as an associated company, has strongly contributed to net income. The Group’s share of Catella AB’s profit amounted to SEK 135 million (121).

Profit after financial items for the Group amounted to 352 MSEK (787).

The Group´s equity ratio, based on acquisition prices, amounts to 37.6% (38.8). For the third year, the Group shall, in accordance with new accounting rules, K3, indicate the market value of properties and derivatives. The value is reported only in the notes and the value related to the real estate portfolio amounted to 10.8 billion (8.6) and derivatives – 0.32 billion (- 0.28). Taking into account these values, the Group’s adjusted equity ratio amounts to 60% (58).

The Group does not make any forecasts for future periods.
– ”The results for 2016 are in line with our forecasts. Our real estate company, CA Fastigheter AB, has during the year not sold real estate more than marginally why the results compared with the previous year is unfair. Instead, a series of acquisitions of both investment property and development projects has been made which are expected to bring considerable value to the Group in the long term. The Group’s agricultural companies in Ukraine, BZK Grain Alliance AB reports strong earnings despite lower subsidies from the Ukrainian state. In addition, Catella AB shows continued good earnings and good growth. We are therefore well positioned to continue to develop our portfolio companies”, says Claesson & Anderzén AB’s CEO Johan Damne

 

Bokslutskommuniké 2016

Posted on by Isabella

Kalmar 2017-03-07

Claesson & Anderzén AB, koncernen, har idag publicerat sin årsredovisning för 2016, se även www.claessonanderzen.com där årsredovisningen går att ladda ned.

Nettoomsättningen för koncernens konsoliderade verksamheter uppgick totalt till 1 157 Mkr (1 444), varav omsättningen för fastighetsbolaget CA Fastigheter AB uppgick till 944 Mkr (1 041) och jordbruksbolaget BZK Grain Alliance AB till 213 Mkr (403). Därutöver har förvaltningsfastigheter sålts till ett värde om 14 Mkr (835).

CA Fastigheter AB har trots stora försäljningar föregående år lyckats upprätthålla driftöverskottet för 2016 vilket uppgick till 360 Mkr (359). Projektutvecklingsverksamheten har under året tillfört koncernen ett resultat om 59 Mkr (64). Under 2016 har projektportföljen utökats med flera större projekt främst i Stockholm. Förvaltningsfastigheter har under året förvärvats till ett belopp om 682 Mkr (273) vilket främst avser fastigheter i Berlin och Malmö.

Jordbruksverksamhetens, BZK Grain Alliance AB, nettoomsättning uppgick till 213 Mkr (403), en minskning som främst beror på ökat varulager mellan årsskiften och som inte får redovisas till verkligt värde.
Resultat av jordbruksverksamheten uppgick till 79 Mkr (148). Resultatet har påverkats negativt av de minskade statliga subventioner som Ukrainska staten beslutade om i slutet av 2015 och som kommer avskaffas helt under 2017. Skördeutfallet för 2016 var bättre än plan för samtliga grödor. Jämfört med föregående år har varuuppbyggnad skett i tron att erhålla bättre priser under Q1 2017, vilket sedermera infriats.
Koncernens innehav i Catella AB, motsvarande 49,9 % av kapitalet, har starkt bidragit till årets resultat. Koncernens andel av Catella AB:s resultat uppgick till 135 Mkr (121)
Resultat efter finansiella poster uppgick därefter till 352 mkr (787).

Synlig soliditet uppgår till 37,6 % (38,8). För tredje året skall koncernen i enlighet med nya redovisningsregler, K3, uppge marknadsvärde för fastigheter och derivat. Värdet redovisas endast i not och uppgick per balansdagen för fastigheter till 10,8 mdr (8,6) och för derivat till – 0,32 mdr (- 0,28). Med hänsyn taget till dessa värden uppgår koncernens justerade soliditet till 60 % (58).

Koncernen lämnar inga prognoser för kommande perioder.
– ”Resultatet för 2016 är i linje med våra prognoser. Vårt fastighetsbolag, CA Fastigheter AB, har under året inte sålt fastigheter mer än marginellt varför en resultatjämförelse med föregående år blir orättvis. Istället har en rad förvärv av såväl förvaltningsfastigheter som utvecklingsprojekt genomförts vilka bedöms tillföra stora värden för koncernen på sikt. Koncernens jordbruksbolag i Ukraina, BZK Grain Alliance AB, redovisar ett starkt resultat trots minskade subventioner från Ukrainska staten. Därutöver visar Catella AB fortsatt bra resultat och en god tillväxt. Vi står därmed väl rustat att fortsätta utveckla våra portföljbolag”, säger Claesson & Anderzén AB:s VD Johan Damne

Catella wins prestigious German real estate award

Posted on by Isabella

06 March 2017 | Property Investment Management

Catella has been awarded a real estate prize in the Refurbishment category for its Living Circle project at the Real Estate Managers 2017 event in Germany. Catella’s Living Circle project is one of the biggest conversions of office space into residential in Germany, and won in competition with projects by major developers.

The imAward 2017 event, arranged by German magazine Immobilienmanager, took place on March 2 in Cologne, with 420 invited guests. The awards started in 2009 and have evolved to become the most significant in the German real estate business. The jury, consisting of 14 specialists, chose Catella’s Living Circle project in the Refurbishment category with the motivation:

“Catella solved two challenges with the Living Circle project. The urban challenge: the old “Thyssen Trade Center” in Dusseldorf had been an empty office building since 2011 and was not usable for new tenants. The market challenge: the residential market in Dusseldorf has a high demand surplus for affordable housing. Dusseldorf needs more housing to regulate the local market. Instead of demolition, the award winners decided for a conversion of the existing office building and to keep the landmark character of the architecture. The inner courtyards offer green oases with a high-quality environment, including a kindergarten and supermarket. The central location also provides close connection in all directions. The exceptional rents represent another important fact: 20% of the apartments are price capped with a maximum rent of EUR 8.50/m2, and the rest have an average rent of only EUR 11.65/m2, which is also below market rents. The Living Circle is one of the biggest conversion projects from office to apartments ever realised in Germany. Moreover, it is the first development in Dusseldorf to apply the rent policy concept.”

“This project was extremely challenging for our team and required a lot of work. But the result has been worth it – a unique and sustainable investment product. The fact that the jury decided on our project against this tough competition gives us even greater motivation in further projects,” says Klaus Franken, Head of German Project Management at Catella.

For more information, please contact:
Klaus Franken
Head of Project Management
+49 211 90 99 35 0
klaus.franken@catella.de

Press contact:
Ann Charlotte Svensson
Head of Group Communications
46 8 463 32 55, 46 72 510 11 61
anncharlotte.svensson@catella.se

Update re Operations and Year-end Reserves

Posted on by Isabella

15 February 2017

NIGHTHAWK ENERGY PLC  (”Nighthawk” or ”the Company”)

Company Update
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to operations, year-end reserves and cash position.

Year-end Reserves Update
The Company has finalized its year-end reserve report and has received the audited Proved Developed Producing reserve report from the Company’s independent reserve engineering firm, Ryder Scott Company LP under SPE standards. The reserves were estimated using current production, anticipated decline curves, actual operating costs and future NYMEX prices ranging from $56.11 to $58.10

The reserve volumes, in barrels, are presented below:

31-Dec-16                                31-Dec-15
Audited

Proved Developed Producing (PDP)                                                     1,101,144                                 1,405,800
Proved Undeveloped (PUD)                                                                      442,063                                               0
Total Proved Reserves (audited)                                                            1,543,207                                 1,405,800

Probable Reserves                                                                                      1,800,00                                  1,423,015
Possible Reserves                                                                                          545,000                                   807,000
Total 3P reserves                                                                                       3,888,207                                3,635,815

 

Although the Company did not perform an audit of Probable and Possible Reserves at 31 December 2016, it is management’s opinion that the reserve amounts shown above accurately reflect the Probable and Possible reserve values as of 31 December 2016. The increase in Probable Reserves from 31 December 2015 is primarily due to improved response estimates and reclassification of reserves from the Possible Reserves classification due to the commencement of the water flood pilot project. The methodology used by the Company to arrive at 31 December 2016 Probable and Possible reserves is the same methodology as its independent reserve engineering firm.

The increase from prior year total Proved Reserves is due to reserves associated with Proved Undeveloped category which were deemed uneconomic at 2015 year-end pricing. Based upon current pricing as of 31 December 2016, certain PUDs are now economic and have therefore been included in the above table. The decrease in Proved Developed Producing, which is net of 2016 annual production of 482,119 gross barrels, is due to annual production consistent with expected normal decline curves.

Operations update

Water flood
As reported on 3 January 2017, the Company has commenced injection into both of the water flood pilot project injection wells. It is anticipated that as the injected water fills existing pore volume, consistent with normal nature of water flood projects, a measurable response will be seen. The Company expects this response to be during the second quarter 2017. As such, the incremental volumes expected from the water flood pilot project have not been included in the PDP reserves above but remain as Probable Reserves at the year-end. Once adequate response and evidence is seen as to the response, the reserves are expected to begin being reclassified to PDP.

Production
Total production for the month of January 2017 was approximately 43,595 gross (35,544 net) barrels as compared December 2016 production of 35,985 gross (28,885 net) barrels. The increase in production since December 2016 is due to the successful completion of a new zone in the Monarch 10-15 well, together with bringing wells back in production that were suspended during the installation of the water flood pilot project.

Year-end Cash Balance
As of 31 December 2016, the Company’s cash balance was US$5.6 million, of which approximately US$1.2m is committed for expenditure on the Arikaree Creek water flood pilot project. Total expenditures for the water flood pilot project are estimated to total $3.5 million. Based upon current projections, the Company will have adequate cash reserves to maintain its current normal operating activities through 2017.

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

Enquiries:
Nighthawk Energy plc
Rick McCullough, Chairman +1 303 407 9600
Kurtis Hooley, Chief Financial Officer +44 (0) 20 3582 1350

Stockdale Securities Limited    +44 (0) 20 7601 6100
Richard Johnson
David Coaten

Catella’s new parking fund makes its first investment in Copenhagen

Posted on by Isabella

Munich-based investment manager Catella Real Estate has acquired a parking
garage with 360 parking spaces in Copenhagen for its newly launched open-ended
real estate special AIF, Catella Parken Europa. The property is leased to the wellknown
car park operator Apcoa on a long-term basis.
The parking garage at Nyropsgade 6 in Copenhagen is located on the edge of the city centre,
directly on one of the city’s major roads. The lease with the operator Apcoa was recently
extended by 10 years. The sellers of the property are private investors.
“Parking space comes at a premium in the Danish capital, so the occupancy rate of the centrally
located car park is very high,” says Henrik Fillibeck, Managing Director of Catella Real Estate.
Launched in December 2016, the Catella Parken Europa fund aims to attain an equity target of
EUR 200 million and will invest at least 70% in the core countries of Central Europe. The fund is
designed exclusively for institutional and semi-professional investors, who will be able to
participate from EUR 5 million and upward. The properties are being selected by Catella’s Dutch
partner Orange Investment Managers, which focuses on the acquisition and asset management of
parking garages in Europe.

For more information, please contact:
Press contact:
Dr Tim Schomberg
Head of Business Development Institutionals
+49 (0)89 189 16 65-25

Ann Charlotte Svensson
Head of Group Communications
+46 8 463 32 55, +46 72 510 11 61